Uchumi
From Wikipedia, the free encyclopedia
Uchumi is a Kenyan supermarket chain. Uchumi closed down in June 2006 after 30 years of business. [1] At the time, its closure was described as "one of the greatest corporate disasters in the history of independent Kenya". [2] However, a government-led rescue plan was initiated and consequently five Uchumi outlets, all in Nairobi, were reopened in July 15, 2006.[3]
Uchumi was founded in 1975 and listed on the Nairobi Stock Exchange in 1992. [4]
The name Uchumi means "economy" in Swahili.
[edit] See also
- Nakumatt
[edit] References
- ^ "Kenyan shop chain shuts its doors", BBC News, 2 June 2006. Retrieved on June 4, 2006.
- ^ "Editorial: Pending queries on fall of Uchumi", The Standard online, 3 June 2006. Retrieved on June 4, 2006.
- ^ http://eastandard.net/hm_news/news.php?articleid=1143955396
- ^ "Uchumi prunes unprofitable branches", 10 February 2005. Retrieved on June 4, 2006.
